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DIA vs SPY: Performance & Backtest Comparison
SPY delivered the higher return - 10.74% CAGR vs 9.29% - over 2005-03-31 → 2026-07-31.
Growth comparison
Drawdown
Annual returns
| DIA | SPY | |
|---|---|---|
| Name | State Street SPDR Dow Jones Industrial Average ETF Trust | State Street SPDR S&P 500 ETF Trust |
| CAGR | 9.29% | 10.74% |
| Total return | 570.44% | 789.41% |
| Volatility | 14.37% | 14.91% |
| Max drawdown | -49.07%Feb 2009 | -50.78%Feb 2009 |
| Sharpe | 0.57 | 0.65 |
| Sortino | 0.81 | 0.88 |
| Best year | 29.64% | 32.31% |
| Worst year | -33.96% | -36.79% |
| Final balance | $67,044 | $88,941 |
Correlation of monthly returns: 0.95. Wondering if you need both? Check their fund overlap →
All figures are total returns: every dividend and distribution is reinvested on its ex-date, and prices are split-adjusted. See the methodology.
Frequently asked questions
Which has performed better, DIA or SPY?
Over 2005-03-31 to 2026-07-31, SPY performed better: 10.74% annualized versus 9.29% for DIA, with dividends reinvested. Past performance does not guarantee future results.
How similar are DIA and SPY?
Their monthly returns have a correlation of 0.95 over the common period. DIA is State Street SPDR Dow Jones Industrial Average ETF Trust; SPY is State Street SPDR S&P 500 ETF Trust.
Which is riskier, DIA or SPY?
Over the common period DIA had 14.37% annualized volatility and a -49.07% max drawdown, versus 14.91% and -50.78% for SPY.